The national median rent reached $1,876 in June, a new high, according to a Realtor.com.
Rents are hitting new highs, but renting is still mostly more affordable than owning a home in most big cities, according to a new report.
The national median rent rose for the 16th straight month and reached $1,876 in June, a new high, according to a Realtor.com’s June Rental Report. That’s pricey, but still 29.9% lower than monthly starter homeownership costs. That’s due to higher mortgage rates pushing borrowing costs up. The median rent for a studio grew by 15.1% from June 2021 to $1,544. A one-bedroom was $1,738; a two-bedroom $2,104.
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